Abstract

The article considers the digital transformation as a main factor of modern economic development. It has given rise to the simultaneous co-existence in the conceptual field of scientific research of two related terms: innovation economy and digital economy. In order to differentiate their essential characteristics, the different approaches to the definition of these concepts are considered. Based on a critical analysis of existing interpretations of the innovation economy, the main elements of its definition are highlighted. The article presents the genesis of the term “digital economy”, reveals the content of resource-oriented, reproductive, socio-economic, epistemological and transformational approaches to its determination. In addition to the existing ones, an innovative approach is proposed and its essential characteristics are revealed. In order to establish the nature of the relationship and interdependence of the categories under consideration, two hypotheses reflecting the relationship between the innovation and digital economy are formulated based on the approaches prevailing in the scientific literature. The first of them assumes the integration of the digital economy into the innovation economy with the assignment to it of the functionality of industry intensification and information and communication support for innovative development. According to the second hypothesis, the digital and innovative economies are considered as two relatively independent and at the same time intersecting in terms of information components of the definition. There has been established the terminological subordination of the concepts of digital economy and innovation economy: from the perspective of the innovation paradigm of post-industrial society, the digital economy appears to be a new, more advanced form of innovation, which is facilitated by the systematic application of digital methods, technologies and tools. The digital economy, on the one hand, is considered as an integral part of innovation, on the other hand, the gradual loss of the digital tools of innovation status leads to a partial exit of the digital economy from the field of innovation and the formation of a relatively independent level of economic development

Highlights

  • I. Theoretical and methodological research of terminological subordination in innovation and digital economy.

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